Protecting that “intentional” method in thoughts has been a key focus for Mike Rankin (pictured prime), president of Clearpath Mortgage Options, in navigating a turbulent 2024 market that’s nonetheless presenting loads of alternative.
On the refinance facet, with mortgage servicers intently surveying the market to snap up potential new enterprise, staying alert to current prospects’ wants is presently a prime precedence for mortgage officers. “We would like no shopper left behind,” Rankin defined to Mortgage Skilled America.
“We need to see that 57% Barry Habib talked about returning to us. We don’t need purchasers refinancing with any person else – and so we’re calling each previous shopper, letting them know, ‘Hey, refis are coming. Alternative goes to come back to refinance and we’re going to be those that will help you with that. I need you to know that we’re monitoring charges for you, and we’re going to succeed in out when it’s time.’”
What are prospects for America’s mortgage refinance market?
Falling mortgage charges in latest weeks have supplied a glimmer of hope {that a} market upswing is across the nook – however fourth-quarter development remains to be prone to be pushed by refinances, Rankin emphasised. “Anybody not prepared goes to overlook out,” he mentioned.
Persevering with to eke out enterprise, even in a refinance market that’s much less profitable than the acquisition facet, ought to be prime of thoughts for mortgage officers all through the rest of the yr, in response to Rankin.
